NeoVolta's Purchase Orders from PMP Energy Reach $1,327,339
14 Avril 2021 - 12:00PM
InvestorsHub NewsWire
NeoVolta's Purchase Orders from PMP Energy Reach
$1,327,339
NeoVolta and PMP Energy Continue Distribution
Agreement Worth Up to $15 Million
San Diego, CA -- April 13, 2021 --
InvestorsHub NewsWire -- NeoVolta Inc. (OTCQB: NEOV) – NeoVolta
Inc.,
manufacturer of Smart Energy Storage Solutions, announced that it
has
received a
total of $1,327,339 in purchase orders to date
from
PMP Energy. The most recent
was
a
reorder in March 2021
valued
at $425,000.
These purchase
orders are part of a
three-year
exclusive
distribution agreement the two companies signed in 2020. In
exchange for a minimum of up to $15 million in purchase orders, PMP
Energy will provide dealers with training and certification to
install NeoVolta energy storage systems in homes and other
locations.
The latest
reorder from PMP Energy
follows one from December 2020,
also for $425,000.
The company
has said it expects to place additional orders of a similar
size.
"This alliance with PMP
Energy is a critical catalyst for our growth strategy," said
NeoVolta CEO Brent Willson. "With their resources and expertise,
more homeowners will benefit from the utility savings and reliable
backup power provided by NeoVolta energy storage."
NeoVolta
now
has 40
certified installers in California, Nevada, Arizona, Utah, and
Puerto Rico. Earlier this month, the company expanded to a
new
dedicated manufacturing facility to support the growing
demand for its storage systems. The home energy storage
market overall has had six
consecutive quarters of record growth. Crippling
power
outages throughout the
country, caused by wildfires and
extreme weather, have underscored
the urgent need for
energy
resilience.
Dan Briggs, PMP Energy's
President and CEO, said, "We are so excited to partner with
NeoVolta, one of the true innovators in home energy storage. We are
confident that we can expand their commercial reach by connecting
homeowners with certified NeoVolta installers."
NeoVolta
storage
systems
are designed
for safety and performance.
They use lithium iron phosphate battery chemistry, the nonflammable
and nontoxic alternative to ordinary
lithium
ion. NeoVolta's
flagship NV14 energy
storage system has a very high storage
capacity of 14.4 kilowatt-hours, expandable to an industry-leading
24.0 kWh with
the optional NV24
battery—without the expense of a
second inverter. The NV14's
inverter
discharges 7.7 kilowatts of instantaneous power, more than
most competitors
in its
class.
For its
superior
safety,
performance and compatibility with any solar system, new or
existing, the NV14 has been named one of Solar
Power World's top storage products for 2019 and
2020.
About
NeoVolta - NeoVolta designs, develops
and manufactures utility-bill reducing residential energy
storage systems
capable of
powering your home even when the grid goes down. With a focus on
safer Lithium-Iron Phosphate (LiFe(PO4)) chemistry, the NV14 is
equipped with a solar rechargeable 14.4 kWh battery
system, a 7,680-Watt inverter
and a web-based energy management system with 24/7 monitoring. By
storing energy instead of sending it back to the grid, consumers
can protect themselves against blackouts, avoid expensive peak
demand electricity rates charged by utility companies when solar
panels aren't producing, and get one step closer to grid
independence. Customers can expand the
NV14's capacity to an industry-leading 24.0 kWh with the optional NeoVolta
NV24 add-on battery. NeoVolta has added
generator compatibility and is working on other industry leading
improvements that will be announced soon.
For
more information visit:
www.NeoVolta.com email
us: IR@NeoVolta.com or call us:
858-239-2029
Forward-Looking
Statements: Some of the statements in
this release are forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, Section 21E of the
Securities Exchange Act of 1934 and the Private Securities
Litigation Reform Act of 1995, which involve risks and
uncertainties. Forward-looking statements in this press release
include, without limitation, the future performance,
reliability and safety of NeoVolta's NV14 storage system and the
ability of the NV14 to be successfully integrated with
residential backup generators. Although NeoVolta
believes that the expectations reflected in such forward-looking
statements are reasonable as of the date made, expectations may
prove to have been materially different from the results expressed
or implied by such forward-looking statements. NeoVolta has
attempted to identify forward-looking statements by terminology
including ''believes,'' ''estimates,'' ''anticipates,''
''expects,'' ''plans,'' ''projects,'' ''intends,'' ''potential,''
''may,'' ''could,'' ''might,'' ''will,'' ''should,''
''approximately'' or other words that convey uncertainty of future
events or outcomes to identify these forward-looking statements.
These statements are only predictions and involve known and unknown
risks, uncertainties, and other factors, including those discussed
under the "Risk Factors" section of NeoVolta's Form 1-A filing
filed with the Securities and Exchange Commission ("SEC") and
updated from time to time in its other public filings with the SEC.
Any forward-looking statements contained in this release speak only
as of its date. NeoVolta undertakes no obligation to update any
forward-looking statements contained in this release to reflect
events or circumstances occurring after its date or to reflect the
occurrence of unanticipated events.
(USOTC:NEOV)
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